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Significance test for means (acceptance sampling)

- K-Nosh is a national gourmet dog food company.…They sell thousands of bags of dog food each day.…They sell dog food in eight, 20, and 40-pound bags.…And the 20-pound bag is by far the most popular size.…K-Nosh's high-end customers demand outstanding products…and excellent service.…Customers don't want a bag with less than 20 pounds.…So while the bag is labeled as 20 pounds,…K-Nosh sets the desired weight of each bag…at 20.15 pounds to ensure customers get…at least 20 pounds in each bag.…

Each day, K-Nosh employees pull a random sample…of 100 bags out of the thousands they ship.…Based on the 100-bag sample,…they will either send out the shipment…or they will reject the shipment for that day.…Today's sample had an average weight of 20.10 pounds,…and the population standard deviation is 0.26 pounds.…So let's start our four-step process.…

Author

Released

11/22/2016

Statistics are a core skill for many careers. Basic stats are critical for making decisions, new discoveries, investments, and even predictions. But sometimes you need to move beyond the basics. Statistics Fundamentals – Part 2 takes business users and data science mavens into practical, example-based learning of the intermediate skills associated with statistics: samples and sampling, confidence intervals, and hypothesis testing.

Eddie Davila first provides a bridge from Part 1, reviewing introductory concepts such as data and probability, and then moves into the topics of sampling, random samples, sample sizes, sampling error and trustworthiness, the central unit theorem, t-distribution, confidence intervals (including explaining unexpected outcomes), and hypothesis testing. This course is a must for those working in data science, business, and business analytics—or anyone else who wants to go beyond means and medians and gain a deeper understanding of how statistics work in the real world.